Pump.fun Launches Incentive Program; PUMP Token Sees 15% Increase

Solana-based meme coin launchpad Pump.fun is rolling out an incentive program for its community, utilizing the PUMP token as a reward. This announcement has positively impacted the token's market value, with a notable double-digit percentage increase.

Pump.fun Incentive Program Details

According to an X post by crypto researcher Dumpster DAO, Pump.fun is set to launch a volume incentives program lasting at least 30 days, with the PUMP token serving as the primary reward.

SDK Update

The Pump.fun team has updated its official SDK to support this program. The updated SDK features an admin function that configures parameters, including the daily token distribution for rewards.

Tracking and Claiming Rewards

Dumpster DAO also highlighted that mechanisms are in place for tracking user volume and claiming token rewards. The incentive system is initially set for 30 days but can be extended or updated as needed.

This incentive program follows a recent announcement by Pump.fun's co-founder, Alon, regarding delays in airdrop plans, which had previously caused a 12% drop in the PUMP token price.

Currently, the PUMP token is trading around $0.002853, with a market capitalization exceeding $1 billion, according to CoinMarketCap. Despite this surge, the token remains below its initial ICO price.

Reviving Market Share

The Pump.fun incentive program aims to boost the platform’s market share. Jupiter data indicates that LetsbonkFun currently leads with 80.7% market share and $303 million in trading volume over the last 24 hours, while Pump.fun holds 14.7% with $55.3 million in trading volume.

Despite selling out during its ICO in under 15 minutes, Pump.fun's market share has been declining. The exact number of tokens allocated for the incentive program remains undisclosed, but a recent SDK version showed 1 billion PUMP tokens daily. Dumpster DAO suggests this might be a test file, as distributing 3% of the supply monthly seems excessively high.